The global Asia Pacific Halal Cosmetic Market is estimated to be valued at US$ 3.11 Bn or Mn in 2023 and is expected to exhibit a CAGR of 10. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Halal cosmetics refer to personal care products that are manufactured following Islamic dietary and hygiene guidelines. They are formulated without any ingredient derived from porcine, alcohol and non-halal ingredients. The products aim to cater to the needs of Muslim communities.
Market key trends:
One of the key trends driving the growth of Asia Pacific halal cosmetic market is increasing awareness about benefits of halal certified products among Muslim consumers. Adherence to religious guidelines and avoidance of harmful substances are emphasizing consumers to opt for halal certified beauty and personal care items. Another factor fueling the demand is rising disposable incomes of consumers especially in emerging economies such as Indonesia, Malaysia and others. This has positively impacted the consumption of premium halal cosmetic products. Surging Muslim population in Asia Pacific countries also presents lucrative opportunity for market expansion over the forecast period.
Content: The Asia Pacific halal cosmetic market is segmented into skin care, hair care, fragrances, and color cosmetics. Among these, the skin care segment dominates the market and is expected to witness high growth over the forecast period. This is due to growing awareness among consumers about the advantages of using natural and organic skin care products. The skin care segment includes facial care, body care, and depilatories. Facial care products such as cleansers, toners, and moisturizers dominate the skin care segment.
The global Asia Pacific Halal Cosmetic Market Share is expected to witness high growth, exhibiting a CAGR of 10.% over the forecast period, due to increasing awareness about halal certified products among Muslim consumers in Asia Pacific countries.
The Middle East region dominates the Asia Pacific halal cosmetic market accounting for more than 35% share of the total market. This is due to high concentration of Muslim population in countries like Indonesia, Malaysia, and Pakistan. Southeast Asian countries such as Malaysia and Indonesia are projected to witness fastest growth in the market.
Key players operating in the Asia Pacific halal cosmetics market include INKIA, Martha Tilaar Group, Wipro Unza, Clara International, Ivy Beauty Corporation, Sdn Bhd Overview, Paragon Technology & Innovation, and Brataco Group of Companies. INKIA and Martha Tilaar Group collectively account for over 30% share of the total market.